SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Down 25.6% in December

SunCar Technology Group Inc. (NASDAQ:SDAGet Free Report) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 186,000 shares, a decline of 25.6% from the December 15th total of 249,900 shares. Based on an average daily volume of 370,100 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.6% of the shares of the stock are sold short.

SunCar Technology Group Stock Down 3.5 %

Shares of NASDAQ SDA traded down $0.34 during midday trading on Friday, reaching $9.50. 138,677 shares of the stock traded hands, compared to its average volume of 544,887. The company’s 50 day moving average is $9.44 and its 200 day moving average is $9.61. SunCar Technology Group has a one year low of $5.71 and a one year high of $11.74.

Analyst Ratings Changes

Separately, BTIG Research initiated coverage on SunCar Technology Group in a research report on Monday, December 30th. They set a “buy” rating and a $12.00 price objective for the company.

Get Our Latest Research Report on SDA

Hedge Funds Weigh In On SunCar Technology Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of SunCar Technology Group by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock valued at $269,000 after buying an additional 1,116 shares in the last quarter. XTX Topco Ltd increased its stake in SunCar Technology Group by 21.0% during the third quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock worth $243,000 after acquiring an additional 3,820 shares during the last quarter. Finally, State Street Corp raised its holdings in SunCar Technology Group by 33.5% during the 3rd quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after buying an additional 3,877 shares during the period. 0.26% of the stock is owned by hedge funds and other institutional investors.

SunCar Technology Group Company Profile

(Get Free Report)

SunCar Technology Group Inc, through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business.

Further Reading

Receive News & Ratings for SunCar Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunCar Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.